Copper & IM vs. Gold

Here is a weekly chart from NFTRH’s Market Internals segment showing Copper and Industrial Metals vs. Gold. In other words, showing cyclical metals vs. the metal of relative counter-cyclicality. The ratios have unsurprisingly bounced along with the 2019 relief rally but a 1 year downtrend is still intact. Au/Cu in the top panel continues to have its weekly moving averages triggered down. If the indicator … Continue reading Copper & IM vs. Gold